Philippines ends 2015 with $600-M net portfolio outflows

Reuters

MANILA - Gross portfolio investment inflows in December were $1.23 billion, greater than the previous month's $1.08 billion, while gross outflows reached $1.40 billion versus $1.15 billion in November, the central bank said in a statement.

Net outflows for 2015 reached $600 million, almost double the $310 million net outflows in 2014, due to profit taking in the stock market and concerns on the then imminent interest rate increase in the United States and slowdown in China.

Nearly 80 percent of registered investments in 2015 went into the stock market, while the rest went into government securities and other peso debt instruments.

The United Kingdom, the United States, Singapore, Luxembourg, and Hong Kong were the top five investor countries.

The U.S. continued to be the main destination of outflows, receiving close to 80 percent of the total.

Registration of foreign investments with the central bank is voluntary, but is required if investors want to buy foreign currency that is to be sent out of the country.